AustralianSuper Pty Ltd Acquires 6,432 Shares of PDD Holdings Inc. Sponsored ADR $PDD

AustralianSuper Pty Ltd lifted its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 18.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,422 shares of the company’s stock after purchasing an additional 6,432 shares during the quarter. AustralianSuper Pty Ltd’s holdings in PDD were worth $5,475,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PDD. Teachers Retirement System of The State of Kentucky increased its position in PDD by 22.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 213,860 shares of the company’s stock worth $28,266,000 after buying an additional 39,700 shares during the last quarter. 111 Capital increased its holdings in shares of PDD by 3.7% during the 3rd quarter. 111 Capital now owns 5,393 shares of the company’s stock valued at $713,000 after acquiring an additional 193 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of PDD by 2.1% in the 3rd quarter. Fisher Asset Management LLC now owns 575,944 shares of the company’s stock valued at $76,123,000 after acquiring an additional 11,800 shares in the last quarter. American Century Companies Inc. lifted its holdings in PDD by 26.3% in the 3rd quarter. American Century Companies Inc. now owns 952,302 shares of the company’s stock worth $125,866,000 after purchasing an additional 198,179 shares during the last quarter. Finally, DNB Asset Management AS boosted its position in PDD by 5.9% during the third quarter. DNB Asset Management AS now owns 59,100 shares of the company’s stock worth $7,811,000 after purchasing an additional 3,299 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Up 0.5%

PDD stock opened at $101.19 on Thursday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $139.41. The company has a market cap of $140.87 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 0.93 and a beta of -0.01. The business’s 50-day simple moving average is $107.69 and its 200 day simple moving average is $119.02.

Analyst Ratings Changes

A number of analysts have recently weighed in on PDD shares. Wall Street Zen cut shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Bank of America cut their target price on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, November 19th. Morgan Stanley set a $148.00 price objective on PDD in a research note on Thursday, January 15th. Citigroup reissued a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Finally, Arete Research set a $130.00 target price on PDD in a research note on Tuesday, December 9th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, PDD presently has a consensus rating of “Hold” and a consensus target price of $139.87.

PDD Company Profile

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.